PRESS RELEASE:
CHATTANOOGA, TN,
October 25, 2021
Transcard, a global leader in payment and technology solutions, announced the release of SMART Exchange, a groundbreaking platform that facilitates the touch-free digital exchange of payments and rich remittance data between buyers and suppliers.
SMART Exchange
An embedded account-to-account (A2A) payment automation solution that digitally connects buyers and suppliers of all sizes through their enterprise resource planning (ERP) applications and banks. SMART Exchange integrates directly with any legacy ERP application and supports payments from any originating bank account.
Trading partners can use SMART Exchange to request or make payments in real-time or schedule them to be made later using ACH, virtual card, Mastercard Send, or other payment methods. An online business directory manages each trading partner’s payment preferences and payment terms.
Because SMART Exchange is directly integrated with the ERP used by each trading partner, rich remittance data flows touch-free, and settled transactions are automatically reconciled in real-time without the need to reassociate payments and remittances or match payments to open invoices.
“The way that businesses pay and get paid is inefficient, unnecessarily complex, and risky,”
said Transcard CEO Greg Bloh.
“SMART Exchange is a big step towards frictionless B2B commerce. By digitally connecting buyers and sellers through their banks and their ERPs, SMART Exchange makes the flow of payments and rich remittance details fast, effortless, and secure.”
Transcard’s pre-integrated SMART Hub solution makes it easy to onboard and register trading partners for SMART Exchange. Intuitive screens guide suppliers and customers through the process of submitting the information required to onboard, vet, register, and setup SMART Exchange users. The onboarding process can be configured based on industry requirements and business needs.
A future release of SMART Exchange will support supply chain financing for qualified buyers.
ABOUT TRANSCARD
Transcard makes frictionless payments a reality with comprehensive global payment solutions designed for banks, fintechs, and businesses of any size and in any industry.
We deliver solutions for B2B payments, C2B payments, B2B2C payments, A2A automation, BaaS.
Our solutions combine unmatched multi-rail capabilities, embedded workflows, best-in-class integration, effortless reconciliation, and bank-grade security. These are some of the reasons that 550 businesses and more than 200 banks trust us with their payments.
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